Construction Spending Up 1.5% in January

Washington, DC, April 1, 2016— Construction spending during January 2016 was estimated at a seasonally adjusted annual rate of $1,140.8 billion, 1.5% above the revised December estimate of $1,123.5 billion, the U.S. Census Bureau of the Department of Commerce announced.

The January figure is 10.4% above the January 2015 estimate of $1,033.3 billion.

Spending on private construction was at a seasonally adjusted annual rate of $831.4 billion, 0.5% above the revised December estimate of $827.3 billion. Residential construction was at a seasonally adjusted annual rate of $433.2 billion in January, nearly the same as the revised December estimate of $433.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $398.2 billion in January, 1.0% above the revised December estimate of $394.2 billion.

In January, the estimated seasonally adjusted annual rate of public construction spending was $309.4 billion, 4.5% above the revised December estimate of $296.2 billion. Educational construction was at a seasonally adjusted annual rate of $68.8 billion, 1.9% below the revised December estimate of $70.1 billion. Highway construction was at a seasonally adjusted annual rate of $110.4 billion, 14.7% above the revised December estimate of $96.2 billion.